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Obasanjo’s in-law bags seven-year imprisonment.

Justice Mojisola Dada of an Ikeja Special Offences Court has sentenced former President Olusegun Obasanjo’s in-law Dr. John Abebe to seven-year imprisonment for laundering and forgery. Justice Dada however gave the convict an option of fine of N50million to be paid within 30days in lieu of imprisonment. The trial judge handed the judgement after it was established that the prosecution proved its…
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CBN has extended the existing naira deadline to February 10.

The Central Bank of Nigeria has extended the deadline for exchanging old naira banknotes for new ones until February 10, 2023, CBN said in a statement on Sunday. Apex Bank is adding “a 10-day extension from Jan 31, 2023 to Feb 10, 2023 to enable more collection of older banknotes,” said CBN Governor Godwin Emefiele. He also pointed out that Nigerians can directly deposit their old…
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Naira Redesign: Here again CBN insists on January 31st.

The Central Bank of Nigeria has confirmed that the January 31 deadline for the old 200, 500 and 1,000 naira banknotes has not changed. This is due to calls coming in from various parties asking and asking that Apex Bank change its reasoning and extend the deadline to give…
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Nigeria falls behind Ghana, Kenya, and 12 other African countries in innovation.

Nigeria, the biggest economy on the continent, is behind Mauritius, South Africa, Morocco, Tunisia, Botswana, Kenya, Ghana, Namibia, Senegal, Tanzania, Rwanda, Madagascar, Zimbabwe, and Cote D’Ivoire. The countries are ranked ahead of Nigeria because they grew investments in research and development and intellectual property fillings. According to the latest Global Innovation Index, scientific…
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Dangote Cement would repurchase up to 10% of its shares.

The Board has been given permission by the shareholders of Dangote Cement Plc, the largest cement producer in Africa, to repurchase up to 10% of the company’s outstanding shares as of the resolution’s effective date. At the Dangote Cement Plc. Extraordinary General Meeting (EGM), which took place on Tuesday, December 13, 2022 in Lagos, this motion and others were approved. What is…
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